Forget Recession, Canada needs 5.8M new homes by 2030

Vancouver, Toronto, Calgary

2022/06/30

Canada needs an additional 5.8M homes by 2030.It will help lower avg home costs and ensure households are not spending > 40% of their disposable income on shelter. That target blows past the current projection of 2.3M new homes by 2030. (CMHC) As of May, typical home price was $823K, ↑ 50% than 2-yr ago, with values > $1M in the Vancouver and Toronto.